Norges Bank Takes Position in United Parcel Service, Inc. (NYSE:UPS)

Norges Bank bought a new stake in shares of United Parcel Service, Inc. (NYSE:UPS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,528,097 shares of the transportation company’s stock, valued at approximately $1,075,393,000. Norges Bank owned about 1.00% of United Parcel Service as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. IMG Wealth Management Inc. purchased a new stake in shares of United Parcel Service in the fourth quarter valued at $25,000. Generali Investments Management Co LLC bought a new position in United Parcel Service during the 4th quarter valued at about $26,000. IFS Advisors LLC raised its position in United Parcel Service by 232.3% in the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after purchasing an additional 151 shares during the period. True Wealth Design LLC lifted its stake in United Parcel Service by 397.7% in the third quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock worth $29,000 after purchasing an additional 171 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of United Parcel Service during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Price Performance

NYSE UPS opened at $111.05 on Friday. The firm’s fifty day simple moving average is $118.92 and its two-hundred day simple moving average is $126.58. The firm has a market capitalization of $94.85 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.55 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a 12-month low of $109.40 and a 12-month high of $154.29.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same quarter in the prior year, the business posted $2.47 EPS. Analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were given a $1.64 dividend. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend was Tuesday, February 18th. United Parcel Service’s dividend payout ratio (DPR) is presently 97.04%.

Wall Street Analyst Weigh In

UPS has been the subject of a number of research analyst reports. Bank of America decreased their price target on United Parcel Service from $133.00 to $129.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup decreased their target price on United Parcel Service from $158.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Baird R W cut shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a report on Friday, January 31st. Raymond James decreased their price objective on shares of United Parcel Service from $155.00 to $145.00 and set a “strong-buy” rating for the company in a report on Friday, January 31st. Finally, Evercore ISI upped their target price on shares of United Parcel Service from $141.00 to $147.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.57.

United Parcel Service Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.